Apple Reintroduces Apple TV

Apple isn't only focused on rethinking the way we listen to music, but now they want to change the way we watch TV.

According to Reuters, the company responsible for the iPhone and the iPad unveiled a smaller, cheaper version of its Apple TV Web-to-TV device on Wednesday (September 1). The new Apple TV device, which accesses content from the Internet and plays it on a TV, will sell for $99 and is a quarter the size of the original, which cost $229. The 4"-square device allows users to rent TV shows for 99 cents and 1st-run films for $4.99. Earlier models, which allowed users to only buy shows, failed to find a major audience.

Alongside renting TV shows and movies, Apple TV users will be able to stream content from Netflix. Apple said it also struck rental deals with ABC and Fox.

Apple co-founder Steve Jobs also rolled out a completely overhauled lineup of iPods and the latest version of iTunes. The biggest shift to iTunes is the introduction of Ping, a social networking feature which allows users to recommend songs to followers or their chosen circle of friends.

"It's Facebook and Twitter meets iTunes. It's a social network all about music," Jobs said at a presentation.

The company has revamped its iPod product line ahead of the holiday season. The revised iPod shuffle has been updated to include playlists and buttons to navigate the volume, and is smaller than the previous model. Jobs said it would play 15 hours of music, and would come in 5 different colors at a price of $49.

The nano, the next model up, now includes FM radio and can hold 24 hours of music. It's priced at $149 for the 8-gigabyte version and $179 for the 16-gigabyte model.

A 3rd revised iPod model, the touch, will include a front camera and is thinner than the current model. It will be priced from $229 to $399 depending on storage, and will be available next week.